BSE Sensex and Nifty 50 were staring at a positive start on the last day of the week, as suggested by the trends on SGX Nifty in early trade.
BSE Sensex and Nifty 50 were staring at a positive start on the last day of the week, as suggested by the trends on SGX Nifty in early trade. Nifty futures were ruling 78 points or nearly half a per cent up at 17,300. On the weekly F&O expiry day, BSE Sensex closed 89.14 points or 0.15% lower at 57,595.68, while NSE Nifty settled 22.90 points or 0.13% down at 17,222.80. Technical analysts say that going forward, the choppiness is likely to remain predominant as long as the Nifty remains below 17330. “On the lower end, support is visible at 17000, below which the current trend may change to a negative one. A decisive move above 17330 may induce a directional trend in the market,” Rupak De, Senior Technical Analyst, LKP Securities, said.
Stocks to watch
Reliance Industries Ltd: The government on Thursday selected Reliance New Energy Solar among other companies for investment under the Rs 18,100 crore production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage. Reliance New Energy Solar is a subsidiary of Mukesh Ambani’s Reliance Industries (RIL).
Kotak Mahindra Bank: Canada Pension Plan and Investment Board (CPPIB) on Thursday sold four crore shares of Kotak Mahindra Bank worth around Rs 6,800 crore through an open market transaction.
Bank of Maharashtra: Bank of Maharashtra (BoM) on Wednesday raised Basel III compliant Additional Tier 1 (AT1) bonds of Rs 290 crore, including green shoe option of Rs 40 crore, at coupon rate of 8.75%.
Ruchi Soya Industries: Patanjali-backed Ruchi Soya’s Rs 4,300 crore follow-on public offering (FPO) saw a muted demand on Thursday as most of the bidding came from eligible employees and retail investors, whereas demand from institutional investors remained low.
Bharat Petroleum Corporation Ltd: BPCL’s privatisation, which has been held up for over a year, could prove to be a challenging task for the government in the next fiscal as well, as potential investors have turned more sceptical of the verity of pricing freedom with state-owned fuel retailers.
IOC, HPCL, BPCL: State-run fuel retailers IOC, BPCL and HPCL have together lost around $2.25 billion (Rs 17,000 crore) in revenue between November and March third week by keeping petrol and diesel prices unchanged despite a sharp rise in crude oil prices, Moody’s Investors Service said on Thursday.
Bharti Airtel: With a 5G launch round the corner, Bharti Airtel on Thursday showcased its high-speed, low latency capabilities for video entertainment. Using its 5G test network, the operator recreated the in-stadia experience of Kapil Dev’s famous 175 not out vs Zimbabwe, during the 1983 Cricket World Cup.
Future Enterprises, PNB, Canara Bank: Future Enterprises Ltd on Thursday said it has defaulted on payment of Rs 93.99 crore to Punjab National Bank and Canara Bank under the one-time restructuring (OTR) plan. The due date for payment of the amount was March 23, a regulatory filing by Future Enterprises Ltd (FEL) said.
SBI: The country’s largest lender State Bank of India (SBI) on Thursday said it has entered into co-lending agreements with five housing finance companies to serve the underserved and unserved borrowers.
Axis Bank: Capital market regulator SEBI levies Rs 5 lakh penalty on Axis Bank for flouting merchant banking (MB) regulations.
